Interest Rates

Interest Rates Effective 12/10/2018 at 10:00 a.m.
 
Interest rates are subject to change at any time without advance notice.

Start Up Loan Interest Rates for First-time Homebuyers

 
Government
Conventional
 
FHA / VA / RD*
HFA Preferred™ (Fannie Mae)
HFA Advantage
(Freddie Mac)
Insured and Uninsured
HFA Preferred™
HFA Advantage

Upfront Paid MI
Insured
HFA Preferred Risk Sharing™
(Fannie Only)
Uninsured
 
1.5% SRP**
2.5% SRP**
1.5% SRP**
2.5% SRP**
3.5% SRP**
1.5% SRP**
Start Up
First Mortgage
4.750 %
5.000 %
5.250 %
5.500 %
5.875 %
5.750 %
Start Up
First Mortgage with
Deferred Payment Loan
4.750 %
5.000 %
5.250 %
5.500 %
5.875 %
5.750 %
Start Up
First Mortgage with
Monthly Payment Loan
4.750 %
5.000 %
5.250 %
5.500 %
5.875 %
5.750 %
*RD loan product only available with a 30-year term.
**Customary and reasonable discretionary fees are allowable.  With the 2.5% SRP rate option, the Lender cannot charge the borrower any origination fee or discount point. With the 1.5% SRP rate option, the Lender may charge the borrower either a 1% origination fee or 1% discount point. With the 3.5% SRP rate option the Lender may charge the borrower either a 1% origination fee or 1% discount point. The remaining 2% must be used to offset the cost of the single-pay upfront MI premium (see the UPMI section of the Lock, Fee, and Service Release Premium (SRP) Guide for more details).
Note: Rates include loan-level price adjustments (LLPA).

Step Up Loan Interest Rates

 
Government
Conventional
 
FHA / VA / RD*
HFA Preferred™ (Fannie Mae)
HFA Advantage
(Freddie Mac)
Insured and Uninsured
HFA Preferred™
HFA Advantage

Upfront Paid MI
Insured
HFA Preferred Risk Sharing™
(Fannie Only)
Uninsured
 
1.5% SRP**
2.5% SRP**
1.5% SRP**
2.5% SRP**
3.5% SRP**
1.5% SRP**
Step Up
Purchase or Refinance First Mortgage
15 Year Term
4.500 %
NA
NA
NA
NA
NA
Step Up
Purchase or Refinance First Mortgage
15 Year Term
Monthly Payment Loan
4.500 %
NA
NA
NA
NA
NA
Step Up
Purchase or Refinance First Mortgage
30 Year Term
4.750 % 5.000 % 5.250 % 5.500 % 5.875 % 5.750 %
Step Up
Purchase or Refinance First Mortgage
30 Year Term
Monthly Payment Loan
4.750 %
5.000%
5.250 %
5.500 %
5.875 %
5.750 %
*RD loan product only available with a 30-year term.
**Customary and reasonable discretionary fees are allowable.  With the 2.5% SRP rate option, the Lender cannot charge the borrower any origination fee or discount point. With the 1.5% SRP rate option, the Lender may charge the borrower either a 1% origination fee or 1% discount point. With the 3.5% SRP rate option the Lender may charge the borrower either a 1% origination fee or 1% discount point. The remaining 2% must be used to offset the cost of the single-pay upfront MI premium (see the UPMI section of the Lock, Fee, and Service Release Premium (SRP) Guide for more details).
Note: Rates include loan-level price adjustments (LLPA).

Fix Up Loan Interest Rates for Home Improvements

 
Unsecured
Rate
Subordinate Lien
Interest Rate
First-Lien
Interest Rate**
Fix Up Loan Secured (12-60 months)
N/A
4.625 %*
4.875 %
Fix Up Loan Secured (61-120 months)
N/A
5.125 %*
4.875 %
Fix Up Loan Secured (121-180 months)
N/A
5.250 %*
4.875 %
Fix Up Loan Secured (181-240 months)
N/A
5.375 %*
4.875 %
Fix Up Loan Unsecured (36-60 months)
5.625 %*
N/A
N/A
Fix Up Loan Unsecured (61-120 months)
6.125 %*
N/A
N/A
Community Fix Up Loan
N/A
5.750 %
4.875 %
Energy Incentive Loan
4.990 %
4.990 %
N/A
Accessibility Loan
N/A
4.990 %
4.875 %
*We offer a 0.25% interest rate reduction from the rate listed above for borrowers who agree to sign up for ACH auto-pay at time of loan closing. This interest rate reduction does not apply to the Energy Incentive, Accessibility, Community Fix Up and first lien interest rate loans.
**For loans using the first lien interest rate: The combination of the interest rate and loan repayment term may not cause the annual percentage rate (APR) for the loan to exceed the first lien position rate noted above by more than 0.49%.
 

In connection with Single Family Division loan programs, Minnesota Housing does not make or arrange loans. It is neither an originator nor creditor and is not affiliated with any Lender. The terms of any mortgage finance transactions conducted in connection with these programs, including important information such as loan fees, the annual percentage rate (APR), repayment conditions, disclosures, and any other materials which are required to be provided to the consumer are the responsibility of the Lender.

Multifamily Rates

View rates for Multifamily products and programs.